Is 08723, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 08723 has remained a Seller's Market.
Housing Prices in 08723, NJ
How much do homes in 08723, NJ cost?
Median Sold Price
$430,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 08723 was $430,000 in March 2024, up 4.3% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $200K | $152K | -24.0% |
2 Bedrooms | $315K | $350K | +11.1% |
3 Bedrooms | $425K | $450K | +5.9% |
4 Bedrooms | $553K | $536K | -3.1% |
5+ Bedrooms | $595K | $655K | +10.1% |
Summary: 08723 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 5.9%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 10.1%.
Housing Supply in 08723, NJ
How many homes are available in 08723, NJ?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
133 | 133 | 0.0% |
Summary: The 08723 real estate market had 133 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 1 | -66.7% |
2 Bedrooms | 41 | 47 | +14.6% |
3 Bedrooms | 49 | 47 | -4.1% |
4 Bedrooms | 36 | 32 | -11.1% |
5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The 08723 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 14.6%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
24 | 29 | +20.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in 08723 in March 2024, up by 20.8% month-over-month. Of the 29 sold homes, 45% were sold under asking, 17% were sold at asking, and 38% were sold over asking.
Days on Market for 08723, NJ
How long does it take to sell a home in 08723, NJ?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
38 Days | 33 Days | -12.8% |
Summary: Homes in 08723 had an average of 33 days on market in Mar 2024, down by 12.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in 08723; 72% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.